Multinomial Approximating Models for Options with k State Variables
提出更一般的多项近似模型，用于定价依赖多个不确定性来源的期权，相比现有模型计算效率更高。
Contingent claims whose values depend on multiple sources of uncertainty arise in many financial contracts and in the analysis of real projects. Unfortunately closed form solutions for these options are rare and numerical methods can be computationally expensive. This article extends the literature on multinomial approximating models. Specifically, new multinomial models are presented that include as special cases existing models. The more general models are shown to be computationally more efficient.